Shares of drug retailers Walgreens Boots Alliance, CVS Health and Rite Aid tumbled after reports that Amazon was looking to make a move into selling drugs online.

Amazon is reported to
be in discussions with mid-market pharmacy benefit managers and has been hiring
talent to assess the drug retailing market for its entry, brokerage firm
Leerink analyst Ana Gupte wrote in a note to clients.

“We are convinced that
AMZN will almost certainly enter the drug distribution value chain within 2
years, evolving into a more disruptive offering over time,” Gupte said.

Amazon’s entry into
pharmaceuticals has been long rumored in the media.

On Friday, CNBC
reported that the e-commerce giant would decide before Thanksgiving whether to
move into selling prescription drugs online, citing a company email and a
source familiar with the matter.

Amazon does not
comment on rumors or speculation, a company spokeswoman said.